Saudi Arabia Ends 80-Year-Old PetroDollar U.S. Agreement: Joins China-Led Central Bank Digital Currency Coalition

This past Sunday (June 9, 2024) Saudi Arabia made the historical move to not renew an 80-year-old agreement with the United States that established the U.S. Dollar as the world currency to purchase Saudi oil, in what should have been headline news, but seems to have been blacklisted in U.S. financial news publications, even in alternative financial news publications such as ZeroHedge News. While I could find no major U.S. English publication covering this as headline news, there was plenty of discussion on Twitter/X. One U.S. investor, Andrei Jikh, who has over 2 million subscribers on YouTube, published a video on just what the end of the petrodollar means, and that video has accumulated almost 1 million views over the past couple of days. The petrodollar agreement between Saudi Arabia and the United States included more than just the agreement to require the purchase of oil with U.S. dollars, as it also included a promise from the U.S. to protect Saudi Arabia militarily, and also contained provisions for establishing the State of Israel in 1948, something that President Roosevelt actually opposed, but was adopted by his successor, President Truman. While U.S. Bitcoin enthusiasts believe that Bitcoin can replace the petrodollar, all the evidence points in the opposite direction, as it was announced last week that Saudi Arabia has joined the Bank for International Settlements (BIS) Project mBridge, a China-dominated central bank digital currency.